Asia and the Pacific remains a dynamic region despite the challenging year for the world economy.
Global growth is poised to decelerate as rising interest rates and Russia's war in Ukraine weigh on activity. Inflation remains high, and banking strains in the United States and Europe have injected greater uncertainty into an already complex economic landscape.
Domestic demand in Asia has so far remained strong despite monetary tightening, while external demand is weakening. The International Monetary Fund projects the region's growth this year to accelerate to 4.6% from 3.8% last year.
